Stocks Fall as SpaceX’s Rout Offsets US-Iran Hopes: Markets Wrap
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(Bloomberg) — Wall Street traders drove stocks down from the brink of all-time highs as a renewed slide in SpaceX overshadowed optimism about progress in peace talks between the US and Iran. Oil dropped.
Vance Hails ‘Good Day’ of Iran Talks as US Waives Oil Sanctions
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(Bloomberg) — US Vice President JD Vance said talks with Iran over the weekend were “very, very good,” as the sides attempt to reach a peace deal within two months and formally end a war that’s reverberated through the global economy.
Iran Cites ‘Major Progress’ After All-Night Talks With US
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(Bloomberg) — Iran said there had been “major progress” in all-night discussions with the US, as the warring sides try to reach a peace deal within two months.
US and Iran Make ‘Progress’ in Talks, Aim to Keep Hormuz Open
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(Bloomberg) — The US and Iran made “encouraging progress” in talks on a peace deal and will continue technical-level discussions this week, mediators said, even as President Donald Trump again threatened strikes if Hezbollah keeps attacking Israel.
The ‘Mass Affluent’ Are Losing Their Allure for Wealth Managers Navigating AI
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(Bloomberg) — Wealth managers keen to stay relevant in the age of artificial intelligence may soon find that clients with a mere $1 million in liquid assets are no longer worth spending human hours on.
US-Iran Talks Set to Open as Vance Arrives in Switzerland
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(Bloomberg) — US-Iran talks on a permanent ceasefire were set to kick off Sunday with top officials including US Vice President JD Vance converging in Switzerland, even after Iran issued a renewed order to close the Strait of Hormuz.
Swiss Voters Set to Reject Stricter Neutrality, Early Poll Shows
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(Bloomberg) — Swiss voters are set to reject an initiative to strengthen neutrality, according to an early poll, a result that could support keeping up sanctions against Russia.
Pakistani Premier Heading to Switzerland to Join US-Iran Talks
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(Bloomberg) — Pakistani Prime Minister Shehbaz Sharif and military chief Asim Munir are heading to Switzerland to take part in US-Iran talks, the government announced Saturday, bringing one of the key mediators between the two adversaries to the table.
Iran-US Talks to Take Place Sunday in Switzerland, Pakistan Says
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(Bloomberg) — Iran and the US will hold technical-level talks on Sunday in Switzerland, Pakistan’s Ministry of Foreign Affairs said.
US-Iran Nuclear Talks Stall as Fighting Rages On in Lebanon
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(Bloomberg) — Fighting between Israel and Hezbollah continued unabated in southern Lebanon, casting fresh uncertainty over planned talks between the US and Iran to permanently end the war in the Middle East and curb Tehran’s nuclear program.
Charting the Global Economy: Warsh’s Tenure at the Fed Begins
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(Bloomberg) — Federal Reserve Chairman Kevin Warsh presided over his first policy meeting since taking the helm of the US central bank, vowing to restore price stability as officials signaled growing support for interest-rate hikes this year.
US-Iran Nuclear Talks Stall Over Lebanon Before They Begin
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(Bloomberg) — Iran delayed the start of negotiations over a permanent peace deal with the US after fighting intensified in southern Lebanon, a potential setback to Donald Trump’s efforts to end the war and curb Tehran’s nuclear program.
Stocks Stall as Iran Nuclear Talks Hit Early Snag: Markets Wrap
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(Bloomberg) — Global stocks are ending a strong week on a cautious note as relief over an interim peace deal between the US and Iran gave way to a focus on the challenges of securing a lasting agreement.
El Niño Is Turbocharging the Record Heat Wave Searing Europe
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(Bloomberg) — Western Europe’s heat wave is forecast to intensify this weekend, turbocharged by El Niño and putting France on track for record temperatures.
Stocks Climb as US-Iran Deal Eases Inflation Angst: Markets Wrap
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(Bloomberg) — Wall Street staged a comeback that saw stocks joining bonds higher after a peace deal between the US and Iran spurred optimism that a revival of the Strait of Hormuz will ease inflation risks.
Norway Holds Rate With Signal for Another Hike This Year
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(Bloomberg) — Norway’s central bank kept borrowing costs steady but sought to prepare investors for more tightening to calm some of the strongest price pressures in the region.
UBS’s Big Stock Rally Has Much Further to Run, Jefferies Says
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(Bloomberg) — UBS Group AG shares could scale peaks last seen in 2007, driven by the earnings power of the bank’s wealth management and investment banking franchises, according to Jefferies.
SNB Keeps Up War Footing on Franc But Evolves Wording on Threat
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(Bloomberg) — The Swiss National Bank warned investors that a Middle East peace deal hasn’t altered its state of readiness to sell the franc if such a stance is required.
Switzerland Loses Top Competitiveness Ranking to Singapore
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(Bloomberg) — Switzerland lost its position as the world’s most competitive economy to Singapore, slipping to third place in the ranking as high US trade tariffs and a strong Swiss franc hurt investment flows.
Swiss Watch Exports Barely Grow in May as Iran Conflict Weighs
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(Bloomberg) — Swiss watch exports barely expanded in May after two months of declines, suggesting the industry is feeling the effects of fallout from the conflict in the Middle East.
